112 Dirt Ln

Claiborne, LA 71292

$198,000F

3 bd · 2.0 ba · 1,920 sqft · Built 2010 · Manufactured · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,414/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $-87/mo
• Annual: $-1,048/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• 1% rule: 0.71%
• Cash to close: $55,440

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $198k.
• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (28.6% below list).
• It's been on market 42 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (28.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#109 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D+, crime D+, health & safety D.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 4.0% in Claiborne — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.